Trump Media Adds $1.1 Billion in Value Day After Debut

Former president Donald Trump’s Trump Media & Technology Group Corp. powered higher on Wednesday after a stellar debut, as investors use it as a way to bet on Trump’s 2024 re-election campaign.

Investors flocked back to the parent company of Truth Social, driving shares up 14% after paring an earlier increase, and adding some $1.1 billion to its value. The move higher came after the stock jumped to a roughly two-year peak on Tuesday when the media startup traded for the first time as a public company. The gains bring Trump’s personal stake to more than $5 billion, adding to the former president’s paper wealth.